Service providers concerned that customer loyalty is waning
Posted by Rachel Fielding in Customer experience on Tue, 22/11/2011 - 01:20
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The vast majority of service providers see customer retention and loyalty as a critical factor driving growth and yet two-thirds of them believe customers are less loyal today than two years ago.
The survey, conducted by analyst firm, Informa Telecoms and Media, found that companies are doing too little, too late in terms of addressing customer loyalty issues: 65% of service providers only initiate a retention programme when the customer has started the process of leaving and 90% measure customer loyalty by churn rates.
The study also highlighted significant organisational challenges that are thwarting loyalty initiatives. In particularly, service and knowledge consistency across channels was flagged up by 94% of respondents, followed by the ability to offer simple, transparent pricing (94%).
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